Charles Schwab Investment Management Inc. Boosts Position in ChampionX Co. (NASDAQ:CHX)

Charles Schwab Investment Management Inc. increased its position in ChampionX Co. (NASDAQ:CHX) by 3.3% in the third quarter, Holdings Channel.com reports. The fund owned 2,623,131 shares of the company’s stock after acquiring an additional 84,875 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in ChampionX were worth $79,087,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Millennium Management LLC grew its position in shares of ChampionX by 12,607.0% during the 2nd quarter. Millennium Management LLC now owns 3,120,847 shares of the company’s stock valued at $103,643,000 after purchasing an additional 3,096,287 shares in the last quarter. Magnetar Financial LLC purchased a new position in ChampionX during the second quarter worth about $72,860,000. Fiera Capital Corp increased its stake in ChampionX by 1.2% in the 2nd quarter. Fiera Capital Corp now owns 1,299,611 shares of the company’s stock worth $43,160,000 after acquiring an additional 15,326 shares during the last quarter. Leeward Investments LLC MA raised its holdings in shares of ChampionX by 19.1% in the 3rd quarter. Leeward Investments LLC MA now owns 1,067,589 shares of the company’s stock valued at $32,188,000 after acquiring an additional 171,097 shares in the last quarter. Finally, Water Island Capital LLC bought a new stake in shares of ChampionX during the 2nd quarter valued at about $35,384,000. Institutional investors own 98.99% of the company’s stock.

ChampionX Stock Up 0.5 %

Shares of NASDAQ:CHX opened at $30.70 on Thursday. The firm has a fifty day moving average of $30.51 and a 200 day moving average of $31.50. ChampionX Co. has a 52-week low of $25.46 and a 52-week high of $39.95. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.20 and a current ratio of 1.94. The firm has a market capitalization of $5.85 billion, a PE ratio of 19.13 and a beta of 2.38.

ChampionX (NASDAQ:CHX) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The firm had revenue of $906.53 million during the quarter, compared to analysts’ expectations of $916.50 million. ChampionX had a return on equity of 19.74% and a net margin of 8.59%. ChampionX’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 earnings per share. As a group, research analysts anticipate that ChampionX Co. will post 1.66 EPS for the current fiscal year.

ChampionX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Friday, January 3rd. ChampionX’s dividend payout ratio (DPR) is presently 23.60%.

Insider Transactions at ChampionX

In related news, insider Deric D. Bryant sold 49,303 shares of ChampionX stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $30.06, for a total value of $1,482,048.18. Following the transaction, the insider now owns 337,409 shares in the company, valued at $10,142,514.54. This trade represents a 12.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Citigroup decreased their price objective on shares of ChampionX from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th.

ChampionX Profile

ChampionX Corporation provides chemistry solutions, artificial lift systems, and engineered equipment and technologies to oil and gas companies worldwide. The company operates through four segments: Production Chemical Technologies, Production & Automation Technologies, Drilling Technologies, and Reservoir Chemical Technologies.